Analysis and comparison of the income statement items

Assignment Help Accounting Basics
Reference no: EM13490512

1. Find the financial statements for 2 related companies and calculate the following ratios for each; current ratio, acid test ratio, debt ratio, equity ratio, acct receivable turnover, days sales uncollected, inventory turnover, days sales in inventory.

2. Write a paragraph describing the difference between the two companies for 3 of the ratios calculated.

3. Prepare common size and trend percentages for the income statements for each company.

4. Write a brief (min 3 paragraphs) analysis and comparison of the income statement items and differences between the two.

Reference no: EM13490512

Questions Cloud

Prepare a report to the cfo of electribolt ltd : Projected turnover includes a conservative estimate of the additional electricity that ElectriBolt could generate and supply, assuming it acquired control of the operations. Operating costs exclude annual supply licence payments due by PowerSmart ..
Determine the final charge on each object : Four identical metallic objects carry the following charges: +5.4 µC, +5.4 µC, -7.0 µC, and -1.6 µC. What is the final charge on each object
Outline the major revisions to the auditing standards : Outline the major revisions to the auditing standards and discuss their implications for auditors conducting audits. (Approx 1,000 words essay response)
What pressure do they exert on the wall : The mass of the H2 molecule is 3.3x10-24 g. If 1023 hydrogen molecules per second strike 2.0 cm2 of wall at an angle of 45° with the normal when moving a speed of 105 cm/s
Analysis and comparison of the income statement items : Find the financial statements for 2 related companies and calculate the following ratios for each; current ratio, acid test ratio, debt ratio, equity ratio, acct receivable turnover, days sales uncollected, inventory turnover, days sales in invent..
How much work was done on the wheel : The angular momentum of a flywheel having a rotational inertia of 0.125 kgm2 decreases from 3.0 to 2.0 kgm2/s in a period of 1.5 s. How much work was done on the wheel
What is the magnitude of the frictional torque : A net torque of 36N*m acts on a wheel rotating about a fixed axis for 6 s. During this time the angular speed of the wheel increases from 0 to 12 rad/s. What is the magnitude of the frictional torque
Account balance and financial statement classification : For each of the following accounts, state its normal balance (debit or credit) and its category on a company's classified financial statements as follows.
Calculate the capital gain or loss for john smith : Discuss capital gains tax consequences for John Smith for the year of assessment ending 29 February 2012 if he does not dispose of any more of his shares in Holdco Ltd and calculate the capital gain or loss for John Smith on the sale of one tenth o..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Sunshine cosmetics corporation requires to acquire new

sunshine cosmetics corporation needs to acquire new facilities and is currently considering two opportunities one

  The potter company reported net income of 225000 for the

the potter company reported net income of 225000 for the current year. depreciation recorded on buildings and equipment

  Amount of foreign tax credit

Taxpayer Q has net taxable income of $30,000 from Country Y which imposes a 40 percent income tax. In addition to the income from Country Y, taxpayer Q has net taxable income from U.S. sources of $120,000, and U.S. tax liability, before the foreig..

  Prepare an abbreviated income statement

Walker Company had total revenue and expense numbers of $1,500,000 and $1,200,000, respectively, in the current year. In addition, the company had a gain of $230,000 that resulted from the passage of new legislation, which is considered unusual an..

  Wich initiative should ofs undertake 3 should ofs use the

has anyone done these questions guideline questions 1.review the 11 strategic initiatives described in exhibit 8 and

  Determining tax consequences and alternatives

How much gain is recognized by Nathan? What is the character of the gain? What are the tax consequences and alternatives to Michelle? Is there a difference if Ben sold his entire interest?

  What is purpose of statement of cost of goods manufactured

What is the purpose of the Statement of Cost of Goods Manufactured?

  Determine the total bond interest expense

Kelly issues $315,000 of 4%, 15 year bonds dated january 1, 2009, that pay interest semiannually on june 30 and december 31. They are issued at 253,263, and their market rate is 6% at the issue date.

  Prepare the operating activities section of statement

Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2007, for Guesser Company, using the indirect method.

  Land to the corporation in exchange

Karen, in forming a new corporation, transfers land to the corporation in exchange for the 100 percent of the stock of the corporation. Karen's basis in the land is $275,000, and the corporation assumes a liability on the property in the amount of..

  Which of the following is not descriptive of external

which of the following is not descriptive of external environmental scanning? a. used as a tool to ensure a

  Problem regarding write off

A few days before the move, Philip hired a friend to organize his belongings, throwing out stuff that he did not need anymore and also packing some of his belongings in his closet. Philip paid her $7,000.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd